Q3 2024 Earnings Forecast for adidas AG Issued By Telsey Advisory Group (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Telsey Advisory Group decreased their Q3 2024 earnings per share estimates for shares of adidas in a research note issued to investors on Wednesday, April 17th. Telsey Advisory Group analyst C. Fernandez now expects that the company will earn $1.30 per share for the quarter, down from their prior estimate of $1.33. The consensus estimate for adidas’ current full-year earnings is $1.81 per share. Telsey Advisory Group also issued estimates for adidas’ FY2026 earnings at $5.41 EPS.

adidas (OTCMKTS:ADDYY) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.36). The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.22 billion. adidas had a negative return on equity of 2.21% and a negative net margin of 0.33%.

A number of other research firms have also recently weighed in on ADDYY. Royal Bank of Canada raised adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, adidas currently has an average rating of “Buy”.

adidas Stock Performance

OTCMKTS ADDYY opened at $119.40 on Friday. adidas has a twelve month low of $79.58 and a twelve month high of $120.75. The company has a quick ratio of 0.66, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $105.62 and a 200 day moving average of $99.41.

Hedge Funds Weigh In On adidas

A number of hedge funds have recently made changes to their positions in ADDYY. GAMMA Investing LLC acquired a new stake in shares of adidas in the fourth quarter valued at approximately $45,000. PNC Financial Services Group Inc. increased its holdings in shares of adidas by 111.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock valued at $151,000 after purchasing an additional 675 shares during the last quarter. Mar Vista Investment Partners LLC increased its holdings in shares of adidas by 8.0% in the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock valued at $2,749,000 after purchasing an additional 2,000 shares during the last quarter. Comerica Bank acquired a new stake in shares of adidas in the second quarter valued at approximately $247,000. Finally, Fisher Asset Management LLC increased its holdings in shares of adidas by 27.5% in the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after purchasing an additional 2,749 shares during the last quarter.

adidas Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.2394 per share. The ex-dividend date of this dividend is Friday, May 17th. adidas’s payout ratio is currently -109.09%.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.